In March this year, Italy's seasonally adjusted industrial production index decreased by 0.1 percent compared with the previous month, according to a report released by the Italian National Institute of Statistics (Istat) on May 18. The results did not meet the expectations of economists, gathered by Reuters, which were for an increase of 0.5 percent. Meanwhile, the year-on-year increase rate was recorded at 6.4 percent.
In March, production of motor vehicles in Italy witnessed a contraction of 8.2 percent month on month. This item alone accounted for 5.6 percent of total domestic industrial production during the month. Analysts said that the decrease in auto output was due to the ending of government incentives.
On the other hand, in the first quarter of 2010, Italy's calendar adjusted industrial production rose 6.4 percent as compared to the last quarter of 2009 and was up 3.1 percent compared with the corresponding period of 2009.